Phoenix Feasibility Study 2023
Lenison
Robust Balance Sheet with
CAD$390M in
pro-forma working capital and investments (1, 2)
2.5M lbs U308
in holdings of
physical uranium
~CAD$13.2M
EXIT
investments in
Market value ~CAD$248M (US$73.50/lb U308)
Acquired at average cost of USD$29.66/lb U308
Long-term holding expected to enhance access to
future project financing for flagship Wheeler River(3)
All material received and held in licenced North
American storage facilities (Cameco + ConverDyn)
Reported sale of 200K lbs U3Og for delivery in
Q4'2023 at average price of USD$73.38
uranium equities
Significant equity holdings in uranium exploration and
development companies, including Skyharbour Resources
Ltd. & GoviEx Uranium Inc.
At-The-Market (ATM) (4) facility
provided opportunistic and low-cost access to capital
through base-shelf prospectus.
19.8M common shares issued in 2023 at an average price of
CAD$1.91 per share(5)
~CAD$60.8M in cash and cash equivalents at September 30, 2023
412 g
3144
PHOTO:
Packaged U30g yellowcake
at Denison's 22.5% owned
McClean Lake mill.
NOTES:
(1) As of September 30,
2023, for additional
details see financial
statements and MD&A for
the period ended
September 30, 2023;
excludes investment in
joint venture (ICU).
(2) Pro-forma adjustment
includes addition of
~CAD$71M in estimated
net proceeds from equity
financing completed in
October. See Denison's
news release dated
October 16, 2023.
(3) See Denison's news
releases dated March 15,
2021, March 22, 2021, and
April 1, 2021.
(4) See Denison's news
release dated September
28, 2021.
(5) As of September 30,
2023, for additional
details see financial
statements and MD&A for
the period ended
September 30, 2023.
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